Forex News

GBP/USD rebounds from weekly lows, buoyed by positive sentiment diminishing the Greenback’s safe-haven appeal. US labor market easing supports Fed rate cut speculations, shifting market narrative. ECB, Fed, and BoE rate cut expectations in swaps markets: ECB at 140 bps, Fed at 120 bps, BoE at 75 bps; UK economic data mixed. The GBP/USD capped…

EUR/USD climbs on Thursday to retake the 1.0800 handle. Markets turned on the USD as investors step up bets of a rate cut early next year. The EUR/USD is up 0.33% on the day. The EUR/USD is on the climb in Thursday trading, lifting into the 1.0800 handle as the Euro (EUR) gains a third…

Bank of Canada Deputy Governor Toni Gravelle said on Thursday that they welcome the improvement in October inflation figures but warned that they need to see further progress on restoring price stability.  On Wednesday, the Bank of Canada kept its key rate unchanged at 5%, as expected. Gravelle reiterated that “overall, the economy no longer…

USD/JPY is on track for its single-worst performing day in 13 months. The Japanese Yen is rally hard across the board, gaining ground against the entire FX market. Hints of possible tightening from BoJ Governor Ueda sparked the Yen’s rally on Thursday. The USD/JPY is on pace to see it’s single worst trading day since…

The DXY Index trades with significant losses on Thursday, remaining below the 20-day SMA near 103.30. Speculation emerges for a policy pivot by the BoJ after Ueda’s comments drive demand away from the USD to the JPY. Investors gear up for US Nonfarm Payrolls data on Friday. The US Dollar (USD) has been navigating turbulent…

NZD/USD stages recovery, as Bank of Japan Governor Ueda’s hawkish comments impact the Greenback. US equities rebound on softer-than-expected jobs data; speculations of over 100 basis points Fed rate cut impact the US Dollar. BoJ’s Ueda suggests various policy rate options, triggering a 2.20% Yen rally against the Greenback. The NZD/USD stages a recovery on…

The AUD/USD rallied from ten-day lows to retest the 0.6600 handle on Thursday. Moderating US Initial Jobless Claims is seeing a recovery in market sentiment. The Australian Dollar is rebounding against the broader FX market. The AUD/USD is finding topside bids on Thursday, climbing three-quarters of a percent to retest the 0.6600 handle as market…

USD/CHF records 0.80% gains in the week after buyers regain 0.8700. US labor market data remains soft, justifying market participants’ rate cuts for 2024. Up next: Traders focus shifts to US Nonfarm Payrolls report. USD/CHF prints decent gains of 0.12% in the day as the North American session begins, extending its weekly gains to 0.80%…